Russia's LNG Plans Suffer Fresh Blow as Chinese Firm Quits Russian Projects

Russia's Arctic LNG 2 energy project suffered a blow after a Chinese engineering company decided to discontinue all ongoing Russian projects.

Chinese engineering company Wison New Energies has decided to discontinue all ongoing Russia n projects and will immediately and indefinitely stop taking any new Russia n business, dealing a blow to the Arctic LNG 2 project. “In view of the strategic future of the company, we have to make this difficult decision,” the company said in a post on LinkedIn. The Arctic LNG 2 had planned to build a gas turbine power station for the plant using equipment from Wison and Harbin Guanghan Gas Turbine Co.

Foreign shareholders suspended participation in the Arctic LNG 2 project after the Biden Administration announced new sanctions in November 2023, effectively withdrawing from the financing of the project and for offtake contracts for the new plant. In November, the U.S.

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